NIO (NYSE:NIO) Stock Price Up 5.9% - Time to Buy?

NIO Inc. (NYSE:NIO - Get Free Report)'s stock price traded up 5.9% during mid-day trading on Monday . The stock traded as high as $4.22 and last traded at $4.13. 43,969,048 shares were traded during trading, a decline of 17% from the average session volume of 52,717,030 shares. The stock had previously closed at $3.90.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Morgan Stanley reaffirmed a "buy" rating on shares of NIO in a research report on Monday. Cfra Research raised NIO to a "hold" rating in a report on Friday, March 21st. Mizuho dropped their target price on NIO from $4.00 to $3.50 and set a "neutral" rating on the stock in a report on Tuesday, June 3rd. Barclays dropped their target price on NIO from $4.00 to $3.00 and set an "underweight" rating on the stock in a report on Wednesday, June 4th. Finally, The Goldman Sachs Group upgraded NIO from a "sell" rating to a "neutral" rating and increased their price target for the stock from $3.70 to $3.80 in a research report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, NIO currently has a consensus rating of "Hold" and a consensus price target of $4.74.

NIO Price Performance

The company has a debt-to-equity ratio of 1.89, a current ratio of 0.84 and a quick ratio of 0.69. The stock has a 50 day moving average price of $3.71 and a 200-day moving average price of $4.02. The stock has a market capitalization of $9.17 billion, a price-to-earnings ratio of -2.71 and a beta of 1.55.

NIO (NYSE:NIO - Get Free Report) last issued its quarterly earnings results on Tuesday, June 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.22) by ($0.23). The firm had revenue of $1.66 billion during the quarter, compared to analyst estimates of $12.46 billion. NIO had a negative return on equity of 286.45% and a negative net margin of 35.51%. The business's revenue was up 21.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.39) earnings per share. On average, analysts forecast that NIO Inc. will post -1.43 earnings per share for the current year.

Hedge Funds Weigh In On NIO

A number of institutional investors have recently added to or reduced their stakes in NIO. Jones Financial Companies Lllp lifted its position in NIO by 131.8% during the fourth quarter. Jones Financial Companies Lllp now owns 7,619 shares of the company's stock worth $33,000 after buying an additional 4,332 shares in the last quarter. Xponance Inc. purchased a new position in NIO during the first quarter worth approximately $39,000. Blueshift Asset Management LLC purchased a new position in NIO during the first quarter worth approximately $43,000. Sava Infond d.o.o. purchased a new position in NIO during the fourth quarter worth approximately $44,000. Finally, Annex Advisory Services LLC purchased a new position in NIO during the first quarter worth approximately $47,000. Hedge funds and other institutional investors own 48.55% of the company's stock.

NIO Company Profile

NIO Inc designs, manufactures, and sells electric vehicles in the People's Republic of China. The company is also involved in the manufacture of e-powertrain, battery packs, and components; and racing management, technology development, and sales and after-sales management activities. In addition, it offers power solutions for battery charging needs; and other value-added services.